BUDAPEST, April 21 A unit of Hungarian holding
company Konzum, partly-owned by Lorinc Meszaros, an
ally of Prime Minister Viktor Orban, has acquired a 5.9 percent
stake in local bank FHB, the companies said on Friday.
The deal, part of a broader shake-up of the local banking
and savings and loans sector, follows the resignation of FHB
chairman Zoltan Speder last October and the sale of his 14
percent stake, after an investigation by the Hungarian
authorities into his business interests.
FHB shares were up 8 percent at 574 forints by 1448 GMT.
Shares in Konzum were up 10 percent 150 forints, their price
having more than doubled over the past two months.
KZF Vagyonkezelo, an asset management company owned by a
Konzum investment fund, bought the 6.46 million FHB shares from
the Hungarian arm of German insurer Allianz SE in a
transaction settled on Wednesday, the companies said in stock
In March Meszaros, who owns a 19.6 percent stake in Konzum,
acquired stakes in another listed company, Opimus,
which owns the publisher of several Hungarian newspapers.
(Reporting by Gergely Szakacs; Editing by Greg Mahlich)